Home Affordability in Thornton, CO
The median home price in Thornton is $450,000 with a median household income of $73,241. Housing is significantly stretched relative to local incomes.
Median Home Price
$450,000
Median Income
$73,241
Price-to-Income Ratio
6.1x
Est. Affordable Home
$285,000
Property Tax Rate
0.54%
Annual Property Tax
$2,430
Sales Tax Rate
8.75%
Cost of Living Index
106
Buying a Home in Thornton
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $73,241 in Thornton can afford a monthly housing payment of approximately $1,709. This translates to a home price of roughly $285,000, which is below the median home price of $450,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Thornton would be approximately $2,430 per year ($203/month) at the effective rate of 0.54%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $13,500 | $436,500 | Yes |
| 5% | $22,500 | $427,500 | Yes |
| 10% | $45,000 | $405,000 | Yes |
| 20% | $90,000 | $360,000 | No |
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